The North America Business-to-Business E-commerce Market would witness market growth of 16% CAGR during the forecast period (2021-2027).
B2B e-commerce is the most common type of e-commerce among the various kinds of e-commerce platforms. It involves two parties like other e-commerce types but those involved parties are companies. All customers are that much familiar with such type of e-commerce because almost all of their transactions are categorized as business-to-consumer (B2C) e-commerce. Various strategies of mass marketing like TV and internet advertisements focus on this type of e-commerce because of its high reach to the potential consumers; however, the total amount of money exchanged in B2B e-commerce transactions is huge.
Under the B2B domain, one company sells a range of products or services to any other company. Generally, there is a team or a department, which utilizes a vendor's products & services. In some cases, one customer on the buyer side initiates a transaction that complements a company's business objectives. Additionally, there are certain B2B transactions included in the whole company's usage of the products, like computers, office furniture, and productivity software. For big or complicated product purchases, the B2B product selection procedure is managed by a buying committee that includes a technical decision-maker, a business decision-maker, and influencers.
The evolving nature of the B2B e-commerce market is motivating several businesses to shift to digital platforms to better deal with customers. The B2B e-commerce market is quite mature in the North America region, due to the presence of key market players and high adoption of new & advanced mediums or models in the business domain.
Many US manufacturers have adopted this e-commerce model to improve their operations, reduce the overall cost and minimize human errors. It is further motivating many other businesses to shift on this business model, which would support regional growth. Several companies in this region have adopted the B2B e-commerce model, due to its benefits that would open new growth avenues for the regional market.
The US market dominated the North America Business-to-Business E-commerce Supplier-Oriented Market by Country 2020, thereby, achieving a market value of $747.8 Billion by 2027. The Canada market is experiencing a CAGR of 19.7% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 18.6% during (2021 - 2027).
Based on Application, the market is segmented into Home & Kitchen, Consumer Electronics, Clothing & Sports Apparels, Industrial & Science, Beauty & Personal Care, Healthcare, Books & Stationary and Others. Based on Deployment Type, the market is segmented into Intermediary-Oriented, Supplier-Oriented and Buyer-Oriented. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alibaba Group Holdings Limited, Amazon.com, Inc., eBay, Inc., Walmart, Inc. (Flipkart), ChinaAseanTrade, DIYSite Group (DIYTrade.com), IndiaMART InterMESH Ltd. (Tradezeal Online), Flexfire LEDs, eWorldTrade.com (Reckon Media LLC), and Kompass International.
Free Valuable Insights: The Global Business-to-Business E-commerce Market is Estimated to Reach USD 18,857.3 billion by 2027 at a CAGR of 16.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alibaba Group Holdings Limited, Amazon.com, Inc., eBay, Inc., Walmart, Inc. (Flipkart), ChinaAseanTrade, DIYSite Group (DIYTrade.com), IndiaMART InterMESH Ltd. (Tradezeal Online), Flexfire LEDs, eWorldTrade.com (Reckon Media LLC), and Kompass International.
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